Hungary’s OTP Bank prepares launch of senior preferred offering

Chicago, May 15 – Hungary’s OTP Bank Nyrt is planning to sell senior preferred notes (Baa1/BBB-/Scope: BBB+) as a dollar-denominated offering, according to information from a market source.

The four-year notes will come with three years of call protection.

The offering is expected be benchmark size.

BNP Paribas, JPMorgan, Morgan Stanley, Societe Generale and OTB Bank have been mandated joint bookrunners for the Regulation S deal.

BNP is coordinating the roadshow.

Already, supranational international financial institutions have express interest in the deal and may be placing orders as anchor investors.

The notes will be issued under the bank’s €5 billion euro medium-term note program.

Based in Budapest, OTP is the largest universal banking services provider in Hungary and has significant presence across Central Eastern Europe.

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